Prabhudas Lilladher's report on Coal India (CIL)
"CIL reported Q3FY15 earnings lower than our expectations. However, the miss was largely driven by higher than expected overburden (OBR) adj costs and provision/write-off. We maintain our earnings estimates for FY15/FY16 on the back of lower operational costs and increase in share of E-auction volumes. CIL remains our top pick with a strong play on Govt-led reform across the chain of its operations, uncompelling valuations and attactive dividend yield at ~5%. We maintain our ‘Accumulate’ rating with a PT of Rs 425, EV/EBITDA of 7x FY17E", says Prabhudas Lilladher research report.
For all recommendations, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
